Sam’s bring the data issue to focus reminds me of my high school physics class when the words accuracy and precision were discussed.
Accuracy refers to the actual trueness of a number to its intent. Did the arrow hit the bull’s eye? Precision is the predictable trueness of the actual measurement and may not be accurate.
When data is imprecise or it is falsely assumed to be so it’s ’garbage in and garbage out.’
Much of what pundits use to read the tea leaves is garbage and the moves in that day’s S&P is laughable. Sam is worth his fee many times over as he gives us the perspective, the wisdom to discount the garbage so that we have more faith in ‘just stand(ing) there and do(ing) nothing in the ever presence of uncertainty (much more than the default) and sentiment driven ups and (particularly) downs.
Sam’s bring the data issue to focus reminds me of my high school physics class when the words accuracy and precision were discussed.
Accuracy refers to the actual trueness of a number to its intent. Did the arrow hit the bull’s eye? Precision is the predictable trueness of the actual measurement and may not be accurate.
When data is imprecise or it is falsely assumed to be so it’s ’garbage in and garbage out.’
Much of what pundits use to read the tea leaves is garbage and the moves in that day’s S&P is laughable. Sam is worth his fee many times over as he gives us the perspective, the wisdom to discount the garbage so that we have more faith in ‘just stand(ing) there and do(ing) nothing in the ever presence of uncertainty (much more than the default) and sentiment driven ups and (particularly) downs.